JC Flowers has tapped BHP Billiton director David Morgan as chairman of the firm’s operations in Australia, a country where the private equity firm has previously not had a major presence.
Morgan will join the financial services specialist after retiring as chief executive of Westpac Banking in January after spending almost nine years with the Sydney-based financial boutique.
Prior to his tenure with Westpac, Morgan held senior positions at the Australian Federal Treasury in Canberra, assisting in the float of the Australian dollar and other financial sector deregulations in the 1980s. Morgan also worked for the International Monetary Fund in Washington DC in the 1970s.
Despite its lack of ground presence in Australia, JC Flowers enjoys a highly successful track record in the Asia Pacific region. Its $1.2 billion deal for Japanese investment bank Shinsei in 2000 is widely regarded as one of the most lucrative in private equity history.
JC Flowers has offices in London, Hamburg and Beijing.